StockNews.com Begins Coverage on Atlantica Sustainable Infrastructure (NASDAQ:AY)

StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Price Performance

NASDAQ:AY opened at $22.08 on Wednesday. Atlantica Sustainable Infrastructure has a 12 month low of $16.82 and a 12 month high of $23.47. The stock has a 50 day moving average of $21.97 and a two-hundred day moving average of $21.96. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The firm has a market cap of $2.56 billion, a P/E ratio of 66.91, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth approximately $1,815,000. Manning & Napier Advisors LLC acquired a new position in shares of Atlantica Sustainable Infrastructure during the 2nd quarter worth approximately $2,195,000. Swedbank AB acquired a new position in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth approximately $4,103,000. Quadrature Capital Ltd lifted its holdings in Atlantica Sustainable Infrastructure by 71.6% in the first quarter. Quadrature Capital Ltd now owns 56,640 shares of the utilities provider’s stock valued at $1,046,000 after acquiring an additional 23,627 shares during the last quarter. Finally, Water Island Capital LLC acquired a new position in Atlantica Sustainable Infrastructure in the second quarter valued at approximately $13,438,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.